Bus 100 , Introduction to Business

DIFFERENCE SMALL BUSINESS OWNER AND ENTREPRENEUR

A small business owner is defined in various ways . In general it is a firm which employs less than 500 persons . The small business firm makes a significant contribution to the US economy as it makes up for 99 .7 percent of US employers , generates over 50 percent of non farm output of the economy , forms 97 percent of export firms and produces 29 percent of the export value of US goods , creating a may be undertaking an enterprise which is fully established , does not have any

element of risk and may not be a flexible venture per se

An entrepreneur , on the other hand pursues a business opportunity regardless of the resources at his disposal and the threats and challenges it poses (Entrepreneurship , 2006 . He is willing to take risks , seeks innovation and is adaptable to success as well as failures An entrepreneur is a willing business person who wants to be an employer rather than employee . A small business man may or may not be a willing owner as he could well have inherited the business . Entrepreneurship generally involves establishing a new company a small business may or may not be a new venture . Besides , an entrepreneur may be small as well as large , for entrepreneurship is not restricted by the resources at ones disposal . Many entrepreneurs are known to start a chain of ventures rather than restricting themselves to one or two businesses for the urge to innovate is much greater in them than a normal businessman . People and financiers tend to be more conservative in dealing with entrepreneurs who are seen as adventurers , where as most small business firms are stable ventures and thus provide security both to the banks as well as their employees